Refer to the Following Figure

question 72

Multiple Choice

Refer to the following figure.When price is $5 and quantity demanded is 3,000,what is the point elasticity of demand?

• A)-3
• B)-1/3
• C)-1
• D)-5
• E)-2/3

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Definitions:

Flooring Planks

Long, thin boards used as a fundamental component in flooring systems, traditionally made of wood but now also available in various materials like vinyl or laminate.

Char

Partially burnt organic material or the process of partial combustion that leaves a substance with increased carbon content.

Gas Chromatography Injector

A component of a gas chromatography system that introduces the sample into the flow path of the carrier gas.

Vaporized

Turned into vapor, typically through the application of heat, changing from a liquid or solid state into a gaseous state.